General Mills (NYSE:GIS) announced today that it has entered into a definitive agreement to divest its operations in Brazil to Grupo 3corações, a leading Brazilian food and beverage company.
The transaction includes a comprehensive portfolio of local household brands, most notably Yoki—the snack and popcorn leader General Mills acquired in 2012—and the seasoning brand Kitano.
The deal also encompasses two major supply chain facilities located in Pouso Alegre and Campo Novo do Parecis.
While the specific purchase price remains undisclosed, the business being sold contributed approximately $350 million to General Mills’ fiscal 2025 net sales.
The move is a central component of the company's "Accelerate" strategy, which aims to drive long-term profitable growth by concentrating resources on core global categories.
Upon completion of this sale, the company will have strategically turned over nearly one-third of its total portfolio through various acquisitions and divestitures since fiscal 2018.
The transaction is expected to close by the end of the 2026 calendar year, pending customary closing conditions and regulatory approvals in Brazil.